The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,717,367 shares of the financial services provider’s stock after purchasing an additional 268,827 shares during the period. Vanguard Group Inc. owned approximately 0.10% of The PNC Financial Services Group worth $7,273,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.0 %

Shares of PNC stock opened at $173.35 on Monday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a market capitalization of $68.60 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The firm has a 50-day moving average price of $190.03 and a 200 day moving average price of $192.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNC shares. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $203.71.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares in the company, valued at approximately $101,369,693.25. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 12,420 shares of company stock worth $2,369,165. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.